Barclays

While turbulence struck the euro market this week, issuers in sterling had an easier time of it with three companies putting together solid deals in the currency.

BAML has pulled off what few thought possible and drawn level with JP Morgan as top broker to the UK’s blue chips, writes David Rothnie.

GlobalCapital presents its annual Corporate Bond Awards 2015. These Awards are determined entirely by a poll of market participants, and celebrate the outstanding issuers, investment banks and rating agencies in the European high yield market between May 2014 and April 2015. GlobalCapital congratulates all the winners and nominees.

América Móvil won very strong demand on Wednesday May 20 for a landmark exchangeable bond issue, into its holding in Koninklijke KPN, the Dutch telecoms company.

General Electric became the latest US issuer to hit the euro bond market with a multi-tranche deal on Wednesday. The bond was issued by GE itself, not GE Capital.

Whitbread, the UK hotel, pub and coffee shop operator, sold its first benchmark bond on Wednesday, drawing together a comfortably oversubscribed book for the 10 year issue.

Eurofima is set to become the latest issuer to sell in dollars this week, with what will be its first deal in the currency since a $1bn three year in May 2010.

Aviva is considering an extra tranche of subordinated debt even longer than the 30.5 year non-call 10.5 it has already hired banks to sell, while a Norwegian insurer has also mandated in euros.

Public sector issuers underlined the strength of demand in the dollar market this week as issuers were able to get benchmarks away despite volatility in US Treasuries.

The public sector dollar bond pipeline for Wednesday is filling up, with a series of issuers set to follow a three year dollar benchmark from the European Investment Bank on Tuesday.

Italy has closed a long dated private placement — its second this month — as Portugal and Spain cue up auctions for the coming days.

Norilsk Nickel is holding investor update meetings in London on Monday with Barclays.